“The granting of this patent effectively increases the protection of Axiron revenues for an additional 10 years to June 2027 (from 2017) in the US. Given the nature of the administration of Axiron, we believe this patent is the most valuable of this patent family."

Normura expects the patent has the potential to essentially allow a decade of exclusivity for Axiron in the US – the world’s largest healthcare market.

The broker is forecasting earnings per share growth of 3 per cent for the year to June 2013, to 4.6¢, and significant growth (330 per cent) for 2014, to 19.8¢.